Manulife to Build New 27-storey Office Tower in Calgary

Manulife Real Estate, the global real estate arm of Manulife Financial Corporation announced the development of 707 Fifth Street, a 27-storey, 564,000 square foot, "AAA", LEED Gold Certified office tower in the downtown core of Calgary.
 
Designed by world-renowned architects Skidmore, Owings and Merrill, 707 Fifth Street is destined to become an icon in the Calgary skyline. The Calgary office of Pivotal Projects is managing the project which has a targeted completion date of March 2017.
 
"Manulife has a long-standing presence in the Calgary real estate market dating back to the early 1960's," said Kevin Adolphe, President and CEO, Manulife Real Estate. "We look forward to carrying on that proud tradition with 707 Fifth Street, which will become a best-in-class office tower in Calgary."
 
Manulife Real Estate's portfolio is diversified by both geography and asset type, consisting primarily of prime office and industrial properties, as well as select retail and multi-family residential properties, in key metropolitan centers throughout Canada, Asia and the United States. Manulife currently owns and manages eight properties in Calgary and 707 Fifth Street will bring its portfolio in the city to approximately 1.3 million square feet.
 
707 Fifth Street's distinct elliptical form, with floor-to-ceiling glass, is designed to maximize sunlight exposure and provide panoramic views of the city and the Rocky Mountains. Amenities at 707 Fifth Street will include a fitness centre, on site conference facility and a landscaped winter garden. The building's prime location, just steps from the upscale Core Shopping Centre, is also expected to benefit from a direct link to Calgary's +15 walkway network.
 
"Delivering a world-class development such as 707 Fifth supports our forward-thinking investment strategy in Calgary," said Ted Willcocks, Global Head of Asset Management at Manulife Real Estate. "It brings to market an exceptional workplace environment for tenants."
 
Brion Energy, previously Dover Operating Corp., has been secured as the lead tenant of the building. The growing 270-person company operates two leases in the bitumen-rich oil sands near Fort McMurray, Alberta.
 
"Brion Energy is excited to have a long-term solution to our office space requirements and a place to call 'home,'" said Brion President and Chief Executive Officer Zhiming Li. "As a growing company, we have been challenged to find a large block of vacant office space in Calgary's core that meets our needs. Manulife's other properties are impressive and Brion can't wait to be in what we know will be a beautiful facility in the heart of Calgary."

on July 30, 2013